New York State of Fracking

CBS News has reported that New York is close to making a decision on whether or not to allow the controversial method of extracting natural gas from below the earth’s surface known as “fracking” to happen in the Marcellus Shale Formation.

Many believe Governor Cuomo will lift the four year moratorium on drilling and announce guidelines for extraction after Labor Day.

Those who support drilling cite the number of jobs it will bring to the region—in the Pennsylvania portion of the Marcellus Shale, land owners are expected to make $2 billion in the next year by leasing land to drilling companies. Those opposed to drilling continue to debate the net profits of drilling and whether or not it can actually be done safely.